AUD/JPY – 1H – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the ascending trendline down.
A bearish descent downwards to the next support level at 96.44700 is considered certain.
Caution: A possible trend reversal in the direction of the resistance line at 97.14800 could occur.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Bullish Engulfing’ chart pattern is found. The chart shows ‘Bullish Engulfing’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.01100 |
| 2nd High | 97.79400 |
| Next High | 97.14800 |
| Current Price | 96.89000 |
| Next Low | 96.44700 |
| 2nd Low | 95.61100 |
| 3rd Low | 95.51400 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bullish Engulfing